Peek&Cloppenburg reopens its store in Băneasa Shopping City

by   CIJ News iDesk V
2023-03-14   09:50

The German retailer Peek&Cloppenburg, which filed for insolvency, is reopening its Băneasa Shopping City store in Romania, now with a new concept.

The pandemic has led to a massive drop in sales, putting pressure on the company's liquidity. In addition, consumer spending behavior continues to be restrained by the war in Ukraine. Supply blockages, rising energy costs, wages and supplies, rising interest rates and the economic outlook also impacted P&C towards the end of last year. In addition, the mild winter did not provide any additional incentive for customers to buy clothes.

Many people are forced to save money because of high inflation, so the retailer cannot pass on the increase in operating costs to customers, the company explains. Another problem is the poor operation of the online store, logistics costs and marketing expenses, which also need to be significantly reduced. In this context, the retailer's attention will return to traditional stores.